NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.44.

A number of equities research analysts have issued reports on NOV shares. Royal Bank of Canada decreased their target price on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their target price on NOV from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday. The Goldman Sachs Group decreased their target price on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Piper Sandler cut their price target on NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on NOV from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th.

Hedge Funds Weigh In On NOV

A number of hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC raised its stake in shares of NOV by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company’s stock valued at $632,610,000 after buying an additional 106,011 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in NOV by 2.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 40,487,598 shares of the oil and gas exploration company’s stock worth $616,221,000 after acquiring an additional 833,158 shares in the last quarter. Vanguard Group Inc. raised its stake in NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company’s stock worth $600,627,000 after acquiring an additional 566,160 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company’s stock worth $275,818,000 after acquiring an additional 1,329,327 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company’s stock worth $107,276,000 after acquiring an additional 3,362,853 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 2.9%

Shares of NYSE NOV opened at $12.64 on Friday. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.02 and a beta of 1.28. The business has a 50 day simple moving average of $12.31 and a 200 day simple moving average of $14.10. NOV has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last announced its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. On average, research analysts predict that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be paid a $0.21 dividend. This represents a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 2nd. NOV’s dividend payout ratio is 20.00%.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.